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Gwar [14]
3 years ago
11

Interest begins accruing the date of the transaction except for _____.

Mathematics
2 answers:
shepuryov [24]3 years ago
6 0
Credit card cash advances
iogann1982 [59]3 years ago
5 0

Answer:

Credit card cash advances is the answer.

Step-by-step explanation:

Interest begins accruing the date of the transaction except for <u>credit card cash advances.</u>

A credit card cash advance is an advance on ones credit card. Here a person borrows the money against his credit card and he has to pay it back with interest. The money can be withdrawn from ATM or at ones bank counter. A cash advance fee is charged every time a person uses his credit card to withdraw money.

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So we have  2% = 2/100 = 0.02.

The amount at the end of the first year is $100 + 0.02*100

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